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Belvedere Trading LLC — 13F Holdings & Portfolio

CIK 1632341 · latest 13F-HR filed 2026-11-05

Backtest portfolio

Belvedere Trading LLC manages $170.77B in 13F-reported U.S. long-equity assets across 1,060 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are EW (17.71%), EW (15.01%), SPY (14.44%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 155 new positions and exited 168; 65 existing positions rose in reported value and 85 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$170.77B

Long-equity book

Holdings
1,060

Distinct positions

Period
2026-09-30

Filed 2026-11-05

Q/Q Activity
+155 / −168 / ↑65 / ↓85

vs 2026-06-30

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q3 26
MU12.2% · -30%GLD10.0% · +280%AMZN8.5% · +103%SPY6.3% · newAAPL6.2% · +57%IWM5.8% · newAVGO5.8% · +114%META4.6% · +18%DRAM4.0% · +57%MSTR3.8% · -43%AMD2.6% · +17%SNDK2.2% · -81%IWB1.5% · newIBIT1.4% · -36%URA1.3% · +20%CRAK1.3% · +139%IYW1.0% · -44%MUU0.9% · +1734%UGL0.9% · newSPXU0.8% · +2417%PLTR0.7% · newVTIP0.6% · newNLR0.6% · newSLV0.6% · newSOXS0.6% · -94%SOXL0.6% · +12%BE0.5% · +924%BNO0.5% · +26%DIA0.4% · +160%SH0.4% · newPLTU0.3% · newDBB0.3% · +12%GOOGL0.3% · newCOPX0.3% · -23%QQQM0.3% · newBITX0.3% · +12421%INTC0.3% · -95%SMCI0.2% · -78%ZCSH0.2% · newSNXX0.2% · -69%CHPY0.2% · +25291%AIPO0.2% · +2409%SLVR0.2% · newASML0.2% · +5%XOP0.2% · newSKHY0.2% · newNVDX0.2% · +82%XME0.2% · +400%DUG0.2% · newGDX0.2% · -19%AGL0.2% · +1%SNDG0.1% · +1820%OIH0.1% · newVLUE0.1% · +1%SOLT0.1% · +213%NUKZ0.1% · -37%GOOW0.1% · +68%PAVE0.1% · +404%ETHU0.1% · newAVGX0.1% · +337%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q2 26 → Q3 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

6 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 67.2%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

Name Title / Status Ownership Type

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 65 →

Top Trims

Show all 85 →

New Positions

Show all 155 →

Exited Positions

Show all 168 →

Belvedere Trading LLC Holdings (2026-09-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 EDWARDS LIFESCIENCES CORP Put EW 28176E108 $30.24B 17.71% 3,898,050 SH
2 EDWARDS LIFESCIENCES CORP Call EW 28176E108 $25.63B 15.01% 3,296,000 SH
3 STATE STR SPDR S&P 500 ETF T TR Put SPY 78462F103 $24.66B 14.44% 32,330,900 SH
4 EVERSOURCE ENERGY Put ES 30040W108 $21.41B 12.54% 2,734,450 SH
5 STATE STR SPDR S&P 500 ETF T TR Call SPY 78462F103 $20.54B 12.03% 26,932,300 SH
6 INVESCO QQQ TR UNIT Call QQQ 46090E103 $5.70B 3.34% 7,711,800 SH
7 EVERSOURCE ENERGY Call ES 30040W108 $5.34B 3.13% 679,950 SH
8 INVESCO QQQ TR UNIT Put QQQ 46090E103 $4.91B 2.87% 6,635,100 SH
9 NVIDIA CORPORATION Call NVDA 67066G104 $3.50B 2.05% 15,324,400 SH
10 NVIDIA CORPORATION Put NVDA 67066G104 $2.91B 1.70% 12,734,600 SH
11 TESLA INC Call TSLA 88160R101 $2.52B 1.47% 7,090,000 SH
12 TESLA INC Put TSLA 88160R101 $2.48B 1.45% 6,982,900 SH
13 MICRON TECHNOLOGY INC Call MU 595112103 $1.86B 1.09% 1,746,000 SH
14 ADVANCED MICRO DEVICES INC Call AMD 007903107 $1.51B 0.88% 2,465,000 SH
15 ADVANCED MICRO DEVICES INC Put AMD 007903107 $1.41B 0.83% 2,311,200 SH
16 VANECK Put SMH 92189F676 $1.41B 0.83% 2,319,600 SH
17 VANECK Call SMH 92189F676 $1.37B 0.80% 2,243,700 SH
18 MICRON TECHNOLOGY INC Put MU 595112103 $1.07B 0.62% 1,000,900 SH
19 META PLATFORMS INC Call META 30303M102 $953.0M 0.56% 1,314,200 SH
20 SANDISK CORP Put SNDK 80004C200 $814.8M 0.48% 468,300 SH
21 META PLATFORMS INC Put META 30303M102 $766.9M 0.45% 1,057,500 SH
22 SANDISK CORP Call SNDK 80004C200 $714.7M 0.42% 410,800 SH
23 APPLE INC Put AAPL 037833100 $672.1M 0.39% 2,018,200 SH
24 SPDR GOLD TR GOLD Call GLD 78463V107 $643.4M 0.38% 1,689,400 SH
25 APPLE INC Call AAPL 037833100 $633.9M 0.37% 1,903,400 SH
26 ISHARES Put IWM 464287655 $591.3M 0.35% 2,127,700 SH
27 SPDR GOLD TR GOLD Put GLD 78463V107 $574.7M 0.34% 1,509,000 SH
28 SOUTHERN CO Call SO 842587107 $434.0M 0.25% 7,140,000 SH
29 ISHARES Call IWM 464287655 $409.8M 0.24% 1,474,600 SH
30 BROADCOM INC Put AVGO 11135F101 $403.5M 0.24% 1,148,900 SH
31 AMAZON COM INC Put AMZN 023135106 $393.7M 0.23% 1,580,000 SH
32 AMAZON COM INC Call AMZN 023135106 $386.8M 0.23% 1,552,300 SH
33 PALANTIR TECHNOLOGIES INC Put PLTR 69608A108 $364.4M 0.21% 1,948,400 SH
34 BROADCOM INC Call AVGO 11135F101 $345.7M 0.20% 984,300 SH
35 PALANTIR TECHNOLOGIES INC Call PLTR 69608A108 $283.4M 0.17% 1,515,100 SH
36 SPACE EXPLORATION TECHN CORP CLASS A Call SPCX 84615Q103 $201.4M 0.12% 1,335,100 SH
37 SOUTHERN CO Put SO 842587107 $189.9M 0.11% 3,130,000 SH
38 STRATEGY INC CL Put MSTR 594972408 $186.1M 0.11% 1,215,900 SH
39 STRATEGY INC CL Call MSTR 594972408 $181.7M 0.11% 1,186,700 SH
40 ISHARES BITCOIN TRUST ETF SHS Call IBIT 46438F101 $149.2M 0.09% 3,151,500 SH
41 SPACE EXPLORATION TECHN CORP CLASS A Put SPCX 84615Q103 $141.6M 0.08% 938,400 SH
42 ISHARES BITCOIN TRUST ETF SHS Put IBIT 46438F101 $136.3M 0.08% 2,879,400 SH
43 INTEL CORP Put INTC 458140100 $124.6M 0.07% 1,036,500 SH
44 INTEL CORP Call INTC 458140100 $97.7M 0.06% 812,800 SH
45 MICRON TECHNOLOGY INC MU 595112103 $97.2M 0.06% 91,298 SH
46 SPDR GOLD TR GOLD GLD 78463V107 $79.5M 0.05% 208,624 SH
47 AMAZON COM INC AMZN 023135106 $67.9M 0.04% 272,699 SH
48 ISHARES SILVER TR Call SLV 46428Q109 $55.0M 0.03% 1,009,200 SH
49 STATE STR SPDR S&P 500 ETF T TR SPY 78462F103 $50.3M 0.03% 65,919 SH
50 APPLE INC AAPL 037833100 $49.1M 0.03% 147,577 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-11-05 $170.77B 1,060 0001062993-26-005766
2026-06-30 2026-07-31 $87.61B 1,038 0001062993-26-003963
2026-03-31 2026-05-12 $84.44B 731 0001062993-26-002538
2025-12-31 2026-02-10 $93.12B 857 0001062993-26-000726
2025-09-30 2025-10-27 $86.85B 888 0001062993-25-016293
2024-12-31 2025-01-31 $82.84B 831 0001062993-25-001338
Filer Information
Address
10 S. RIVERSIDE PLAZA
SUITE 2100
CHICAGO, IL 60606
Phone
(312) 893-3750
Filing Manager
Belvedere Trading LLC
CHICAGO, IL
Signatory
Lisa Muehlfelt
Controller